NEW DELHI: Hyundai Motor India Ltd today said it will hike prices by up to Rs 1 lakh across models from January to offset higher input costs, fluctuating exchange rates and marketing expenses.

"In these challenging year-end market conditions, we are constrained to consider price increase on account of factors like increased input costs, fluctuating exchange rates and increasing marketing expenses," HMIL Senior Vice President, Sales and Marketing Rakesh Srivastava said in a statement.

What began as an experiment is emerging as a mainstream logistic option for India’s second-largest car manufacturer Hyundai Motor India (HMIL), precipitated by the Centre’s demonetisation move. The Korean chaebol has said it will use the coastal shipping route to overcome the challenges of truck availability, delays in transit time and uncertainity of road operations.Hyundai has decided to utilise coastal shipping a third time in 2016 with a cargo of 2,500 units to be shipped to Gujarat, NCR and Mumbai on Monday from Kamarajar Port at Ennore near here through Sical Logistics — the only operator so far to test waters through the shipping route as mooted by the Union government.

Since its inception in 1998, Hyundai Santro has been one of the most popular and best-selling hatchbacks in India. Hyundai discontinued the Santro in 2014 to make way for the Grand i10 and Elite i20 in the product lineup. Now though, the Korean car manufacturer is working on a new Santro, which is said to be replacing the Hyundai i10 and will be positioned above it. This has been claimed by a report in the Hindustan Times.

Strengthening it's SUV portfolio, Hyundai Motor India launched all new Tucson with an introductory price ranging between Rs 18.99 lakh and Rs 24.99 lakh (ex-showroom Delhi).

The company has launched the third generation Tucson with both petrol and diesel powertrains.

Hyundai Motor India Ltd (HMIL), on Monday, reported its highest ever monthly sales at 64,372 units last month, up 4.3 %, as compared to October 2015.

The company had sold 61,701 units in the same month last year, HMIL said in a statement. In the domestic market, Hyundai sold 50,016 units last month as compared with 47,015 units in October last year, a growth of 6.4 %. However, exports declined by 2.2 % to 14,356 units as against 14,686 units in the same period last year.

Seoul: Hyundai Motor Co., whose executives are taking a pay cut because of an earnings slump, posted a drop in quarterly profit after labour strikes hurt production in South Korea.

Operating profit declined 29% to 1.07 trillion won ($943 million) in the three months ended 30 September, the Seoul-based company said on Wednesday. That compares with the 1.22 trillion won average of 23 analysts’ estimates compiled by Bloomberg. Net income fell for a 11th consecutive quarter, also missing analysts estimates.

With a bumper Navratri behind them, carmakers are gearing up for a big Diwali. Dealers for the country’s top two players — Maruti and Hyundai — told FE retail sales have risen 15-16% during the nine-day-long festival driven by fairly chunky discounts. Channel checks by Bank of America Merrill Lynch reveal retail sales are 10-15% higher for most passenger vehicle makers.

The clock is turning back at Hyundai Motor India Ltd with the local arm of the Korean carmaker offering its compact car models Eon and i10 at Rs2.72 lakh and Rs3.88 lakh respectively, or the price they commanded five years ago.

“The i10 and Eon have the lowest price in five years while the Grand i10 and Verna have the highest offers,” said Rakesh Srivastava, senior vice- president, sales and marketing at Hyundai India, adding that “Hyundai models are always high on consideration set of buyers.

Hyundai Motor India Ltd (HMIL) today reported 4.72 per cent increase in total sales at 59,211 units in September.

The company had sold 56,539 units in the same month last year, HMIL said in a statement.

Hyundai Motor's South Korean labour union staged its first full nationwide strike in 12 years on Monday over stalled wage talks, putting the automaker's earnings and sales targets at risk.

The full-day walkout came after a series of partial stoppages since July at the automaker's factories across South Korea, its biggest manufacturing base which produces nearly 40 per cent of its vehicles sold globally last year.

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